Which states can I find property up to $10M TIV?

Overview

Through Velocity, Pathpoint agents can find property TIV limits of up to $10M per location and per policy in AL, FL, GA, LA, MS, SC, and TX. Building guidelines and deductibles vary by state.

Eligible Classes

Entertainment/Athletic Facilities (Day Spa | Convention Center| Non-Profit Clubs | Golf Courses | Fitness Clubs)
Habitational (Apartments | Condos)
Offices (Banks | Medical/Dental | Law | Psychiatric)
Restaurants (Bakery | Bars & Taverns | Breweries & Distilleries | Restaurants - Casual, Fast Food, Fine Dining)
Retail (Clothing & Apparel | Furniture | Home Improvement | Pharmacy (CVS/Walgreens) | Mixed Use Center - LRO)
Schools & Municipalities (Fire Dept | Government Buildings | Police Stations | Schools - primary/secondary)
Services (Animal Shelters | Daycare Centers | Printing & Signs | Self-Storage Warehouse)
Wholesale (Building Material Dealers | Hardware

Alabama

Building Guidelines
- 100% Replacement Cost Value required: minimum $250,000 building value
- All Other Perils (AOP) coverage is available if:
  - Wiring, Plumbing, and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
- Frame/Non-Combustible/Light Metal Frame construction within 1 mile of the coast is ineligible
Deductibles
- Named Storm: 1% | 2% | 3% | 5% | 10%
  Tier 1 minimum: 2%
- All Other Wind Hail: $10,000 | $25,000| $50,000 | $100,000 | Minimum $10k
  when TIV <$500k; $25k when TIV >$500k
- AOP: $2,500 | $5,000 | $10,000 | $25,000

Florida

Building Guidelines
- 100% Replacement Cost Value required: minimum $250,000 building value
- Year built (YB) before 1981 are not eligible in Tri-County (Broward, Miami-Dade, Palm Beach)
- All Other Perils (AOP) coverage is available if:
  - Wiring, Plumbing and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
- Frame/Non-Combustible/Light Metal Frame construction is ineligible in Tri-County or within 1 mile of the coast in all other counties
Deductibles
- Named Storm: 3% | 5% | 10%
  Tri-County minimum 5%
- All Other Wind Hail: $10,000 | $25,000| $50,000 | $100,000 | Minimum $10k
  when TIV <$500k; $25k when TIV >$500k
- AOP: $2,500 | $5,000 | $10,000 | $25,000
  Tri-County minimum $5,000

Georgia

Building Guidelines
- 100% Replacement Cost Value required: minimum $250,000 building value
- All Other Perils (AOP) coverage is available if:
  - Wiring, Plumbing, and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
Deductibles
- Named Storm: 1% | 2% | 3% | 5% | 10%
  Tier 1 minimum: 2% (except Chatham - 1%)
- All Other Wind Hail: $10,000 | $25,000| $50,000 | $100,000 | Minimum $10k
  when TIV <$500k; $25k when TIV >$500k
- AOP: $2,500 | $5,000 | $10,000 | $25,000

Louisiana

Building Guidelines
- Year built (YB) 1980 and newer for Retail, Restaurant, Healthcare, Service, Entertainment, and Wholesale occupancies; 2000 & newer for all other occupancies
- 100% Replacement Cost Value required; minimum $250,000 building value; coinsurance (SMB425) applies
- All Other Perils (AOP) coverage available if:
  - Wiring, Plumbing and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
Deductibles
- Named Storm: 3% | 5% | 10%
  Jefferson, Orleans: minimum - 5%
- All Other Wind Hail: $50,000 | $100,000 | Minimum $25k when TIV <$1M
  $50k when TIV >$1M
- AOP: $2,500 | $5,000 | $10,000 | $25,000
  Tri-County minimum $5,000

Mississippi

Building Guidelines
- 100% Replacement Cost Value required; minimum $250,000 building value.
- All Other Perils (AOP) coverage available if:
  - Wiring, Plumbing and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
- Frame/Non-Combustible/Light Metal Frame construction within 1 mile of the coast is ineligible
Deductibles
- Named Storm: 1% | 2% | 3% | 5% | 10%
  Tier 1 minimum: 2%
- All Other Wind Hail: $10,000 | $25,000 | $50,000 | $100,000 | Minimum $10k
- AOP: $2,500 | $5,000 | $10,000 | $25,000

South Carolina

Building Guidelines
- 100% Replacement Cost Value required; minimum $250,000 building value.
- All Other Perils (AOP) coverage available if:
  - Wiring, Plumbing and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
Deductibles
- Named Storm: 1% | 2% | 3% | 5% | 10%
  Tier 1 minimum: 2%; Charleston: 3%
- All Other Wind Hail: $10,000 | $25,000| $50,000 | $100,000 | Minimum $10k
  when TIV <$500k; $25k when TIV >$500k
- AOP: $2,500 | $5,000 | $10,000 | $25,000

Texas

Building Guidelines
- 100% Replacement Cost Value required; minimum $250,000 building value.
- All Other Perils (AOP) coverage available if:
  - Wiring, Plumbing and HVAC have been updated within the last 25 years
  - Windows, Doors, and Sliders ACV form (SMB 422) applies for buildings over 25 years
- Vacant buildings are not eligible for any coverage
- Frame/Non-Combustible/Light Metal Frame construction within 1 mile of the coast is ineligible
Deductibles
- Named Storm: 2% | 3% | 5% | 10%
  Tier 1 minimum: 2%
- All Other Wind Hail: $10,000 | $25,000| $50,000 | $100,000 | Minimum $10k
  when TIV <$500k; $25k when TIV >$500k
- AOP: $2,500 | $5,000 | $10,000 | $25,000

Watch a Demonstration

Additional Resources

Appetite Guide

Understanding Protection Classes

FEMA Website

Commercial Property Coverages Map

Property Coverage Postcard for Agents

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FAQs

Which states get I get up to $10M TIV for property coverage?

Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, and Texas

Can I get $10M TIV when quoting other Pathpoint verticals?

You can obtain property up to $10M TIV in Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, and Texas for Lessor's Risk, Restaurants, and Retail and Services. Vacant Buildings are not eligible for $10M TIV.

What rating does Velocity hold?

Velocity holds an AM Best A rating

What are common declinations for Velocity?

Some common declinations include:
- More than three years
- Claims not full repaired
- Claims history involving mold or asbestos
- Renovation work/demolition during the policy term
- Outdated electric type (Knob and tube, fuses, etc.)
- Vacant buildings
- Manufactured/mobile homes
- Building over water or without permanent foundation
- Restaurants built before 2000
- Building over 25 years old without full updates
- Roof type wooden shingles/shakes
- Protection Class 8, 9, or 10
- Buildings on the Historical Registry
- Roof conditions
- Locations with operations involving religious organization

Is wind always available? How do you determine deductibles?

Wind will always be available. The minimum deductible is based on zip code, occupancy, year built, construction, distance to coast, and TIV. It could be as low as 1% or as high as 10%

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Protection Classes

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